August 2, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Volkswagen AG (ADR) (OTCMKTS:VLKAY) shares over potential securities laws violations by Volkswagen AG and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Volkswagen AG (ADR) (OTCMKTS:VLKAY) concerning whether a series of statements by Volkswagen AG regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On July 25, 2017, a lawsuit was filed in U.S. District Court for the District of New Jersey against Porsche AG, Volkswagen AG, Audi AG, BMW AG, and Mercedes-Benz USA, alleging violations of federal antitrust laws.

Specifically, the complaint alleges that since 2006, the carmakers conspired 'to share commercially-sensitive information and reach unlawful agreements' in order 'to impose a German automobile premium on consumers premised on superior German engineering, while secretly stunting incentives to innovate.'

Then on July 28, 2017, a similar complaint was filed in U.S. District Court for the Northern District of California, and another complaint was filed in the District of New Jersey.

Shares of Volkswagen AG (ADR) (OTCMKTS:VLKAY) declined to $30.79 per share on August 7, 2017.